I think the barrier to entry is inherent in the "rich people..." part of your idea. Industries that have a huge financial requirement in order to lay down the technologies needed have historically been the WORST monopolies (at least in the US, we have examples in Oil, Railroads, telecoms, etc).

Also, you make it sound like corrupt, industry protecting regulation is the exception and not the norm. Where do you live, and does this fantasy place accept immigrants?